HALISTER1: INDIA RATINGS: Lotus Greens Cut; Jet Airways, Metroglobal Raised

INDIA RATINGS: Lotus Greens Cut; Jet Airways, Metroglobal Raised

(Bloomberg) -- A roundup of debt rating changes of Indian cos. To get this story sent to your inbox in real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery. DOWNGRADES:
  • Kalyan Infratech
    • Long-term bank facilities cut to BBB(SO) from BBB+ at Care Ratings
    • Cites reduction in toll revenue
  • Lotus Greens Constructions
    • NCDs cut to BB+(SO) from BBB-(SO) at Crisil
    • Cites lower-than-expected saleability of its project adversely impacting cash flows
UPGRADES:
  • Jet Airways
    • LT loans raised to BBB- from BB at ICRA; NCDs also revised to BBB- from BB
    • Cites improved operating performance in the current yr due to reduced jet fuel prices, support from its strategic partner Etihad Airways
  • Metroglobal
    • LT bank facilities revised to BBB+ from BBB at Care Ratings
    • Cites improvement in scale of operations
  • Mold-tek Packaging
    • LT fund based facilities revised to BBB+ from BBB at ICRA
    • Cites increasing demand for its product, customer acquisition
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
JETIN IN (Jet Airways India Ltd)
MGLB IN (Metroglobal Ltd)
0810231D IN (Kalyan Infratech Pvt Ltd)
MTEP IN (Mold-Tek Packaging Ltd)

To de-activate this alert, click here

UUID: 7947283